Over the years I used to call many of the 'local currencies' BongoBux because they were pretty worthless vs the Dollar, and when they collapsed [think: Argentina, Venezuela, Zimbabwe] the Dollar was the 'go to' of the locals who had just been wiped-out.
It's looking like it's the Greenback's turn in the barrel.
Decide for yourself which of these quotes [Anchorman, Buffet, Hemingway] works best for you:
- "Well, that escalated quickly."
- "When the tide goes out you see who's swimming naked."
- "How did you go bankrupt? Two ways. Gradually, then suddenly."
Whichever you choose, Keynesian Theory aka Modern Monetary Theory based upon debt-fiat currency is being exposed as fake & gay like old Maynard was himself.
- Friday the COMEX [aka CRIMEX] closed the 'spot' price of Silver at $89.95/oz.
- GoldBroker put the 'spot' price of Silver at $90.18/oz.
- Shanghai was over $100/oz.
- APMEX was selling one Silver Eagle for $109.
Are you sitting down? Now swallow hard and get ready:
- The US Mint has repriced* 1oz Bright Uncirculated Silver Eagles from $91 to $169...an almost 90% increase.
*Put another way, this is how much the purchasing power of the Dollar just dropped according to the US Mint. It now takes almost twice as many Debt Dollars to buy the same 1oz of Silver. [read: BongoBux].
- One wonders what this will do to the rates at Somali Learing Centers and Daycares?
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